Binance Expands Soft Staking to Include Ethereum (ETH)

According to the announcement from Binance, the platform has expanded its Soft Staking feature to support Ethereum (ETH), allowing users to earn staking rewards on selected tokens directly from their Spot Accounts. Soft Staking provides flexibility, enabling users to trade, withdraw, or utilize their tokens while simultaneously earning rewards. The rewards are generated through an on-chain proof of stake mechanism and are distributed daily in the respective native token to users' Spot Accounts. The calculation of rewards is based on the daily average balance of eligible tokens held in users' Spot Accounts. The addition of Ethereum (ETH) brings the total number of supported tokens for Soft Staking to 19, including BNB, SOL, ADA, TRX, TON, SUI, NEAR, APT, POL, ALGO, IOTA, AXS, EGLD, THETA, DASH, STRK, S, and BABY. To qualify for rewards, users must meet the minimum holding requirement for each token in their Spot balance, with a cap on the eligible holding amount. Balances exceeding this cap will not earn additional rewards. Users can activate Soft Staking via the Earn section on the Binance website or app, following a simple process to start earning rewards. Binance emphasizes that users should refer to the Soft Staking Terms, Binance Terms of Use, and the Risk Warning before utilizing the Soft Staking feature. The platform notes that average daily snapshots of the Spot Account will commence at 00:00 (UTC) the day after activation, with staking rewards distributed between 00:00 and 08:00 (UTC) the following day. Binance reserves the right to amend or cancel the announcement at its discretion without prior notice. Users are advised to consider the volatility of digital asset prices and the potential risks involved in investment decisions.